Existing vulnerabilities in Egypt were exacerbated by the economic effects of the Russian aggression in Ukraine. Together with other reasons, a fourth loan programme of the IMF was approved for Egypt in December 2022. The former three IMF loan programmes did not lead to improved debt sustainability, but rather facilitated a heavy borrowing spree – with the IMF becoming a lender of “first resort”. Instead of sustainably addressing macroeconomic vulnerabilities, the new programme seems to serve the purpose of bailing out the IMF.
In dieser Studie analysiert Kristina Rehbein, Politische Koordinatorin bei erlassjahr.de, das IWF-Programm für Ägypten.
Herausgeberin: Friedrich-Ebert-Stiftung MENA
Autorin: Kristina Rehbein
Erscheinungsdatum: Mai 2023
Als kostenloser Download: FES-Studie: “Bailout for Egypt or the IMF”